The best data room software makes selling businesses more efficient, faster and more secure. It is designed to support the entire transaction process and speed up due diligence by providing a secure repository for sharing sensitive information. It also offers an audit trail to help keep transparency and accountability.

The most modern VDR providers incorporate machine learning or artificial Intelligence (AI) tools in order to cut down on manual work during due diligence and save time. AI tools can scour lengthy documents to highlight potential discussion points or deal breakers decreasing the amount of pages that a human has to go through to find relevant information.

Other features a high-end virtual data room should provide include the ability to integrate with an identity management supplier such as Okta, OneLogin and Azure AD. This enables users to authenticate once and access separate secured systems without needing to enter credentials again. The ability to upload files from a computer is important, as is the ability to drag and drop. Maintaining on top of tasks, threads of Q&A and uploads to documents can be a challenge when teams are scattered across many locations so the best service providers send email notifications to inform users on any new activities.

It is also best to look for a provider who offers flexible storage options with the option to change the amount of storage you need according to the duration of a project or deal. This way you can avoid paying for storage that isn’t needed and also keep the cost down.